→ skos:prefLabel → "Microfinance"@en
→ od:hasContext → "Traditional banks tend to decline loans to base of the pyramid and low-income groups because of high transaction costs and a lack of collateral and credit history."@en
→ od:hasExample → "[WaterCredit], an initiative launched by the nonprofit Water.org, provides access to safe water and sanitation in developing countries by issuing microfinance loans for clean water and toilets for individual- and communal use. "@en
→ od:hasLFId → "P21", "P2_2"
→ od:hasProblem → "Base of the pyramid and low-income groups lack access to financial services and thus financial literacy. They often just need small amounts of money to buy muchneeded things or engage in local business."@en
→ od:hasReference → "(Clinton & Whisnant, 2014)"
→ od:hasSolution → "Providing small loans and financial services to people without access to conventional banks. Microfinance is often provided through group-lending systems where group members act as guarantors for each other."@en